29 Feb The Spotify Advertising Platform Is Ripe For Luxury Brands
We’ve all been using Spotify for music over the past few years and this streaming music platform has done a great job and absolutely dominated this space. This has got my attention as of late, even though I’m a bit late to the game here and the Spotify advertising platform is up and running strong, despite being considered “new” still. What we have learned is that now is the time to jump on board and get massive exposure in a targeted area for a great CPM.
Want in now before those prices rise drastically by this time next year? If I have perked up your interest, then buckle in and let’s take a look at why this platform is ripe for luxury brands and how you can take advantage. It doesn’t matter if its only audio ads, if you can reach your target market with your copy skills, you’re going to crush it advertising on Spotify.
The Spotify Advertising Platform Can Target Luxury Customers
The team at Spotify was very smart in how it not only envisioned its advertising platform, but how they’ve delivered on that with the smart targeting options that are on tap right now. Location targeting is a very powerful thing, but what we love most about advertising on Spotify is that you can better reach those only listening via audio. Why is this so important to think about right now here in 2020?
Because, Spotify has managed to capture the screen free time for a lot of people during the day. This means while they’re working out, driving their car, listening at work, while they’re cooking. Not many other platforms right now can say the same, and this is why we think you should be jumping on Spotify to advertise right bloody now.
I know a lot of advertising executives might see those age demographics and see it is skewed towards a younger audience, but that’s fine. Much like you shouldn’t ignore Tik Tok marketing(article coming next week on this) right now either, the branding and exposure reach is too massive to ignore. If you’re a luxury car dealer, real estate agent or mortgage broke you’ll especially want to rush to advertising as soon as possible.
The older age groups will and are flocking to the platform now and if you’re ready to scale, so might as well get in early. We think utilizing Spotify’s advertising platform for luxury brands right now is ripe for branding more than anything else. I think it’s also ripe for emerging brands and personalities to gain market share and really build their targeted audience from here.
- 271M Monthly Users
- 500k_ Podcast Episodes
- 3B Playlists
- 2.5 Hours Per Day Usage
- Data Deep Dive For Targeting
- 46% Female / 54% Make
They have so much data already you can easily segment your advertising into the right channels and really drive home a good ROI. The possibilities are endless, and since it is cheaper CPM wise, you can play around with different avenues and audiences which is great. But imagine a real estate agent running an open house ad to people only in Beverly Hills, and those listening to financial or local streams.
Test The Spotify Advertising Platform Out
It’s that simple. Set aside $500 to run a single, well thought out campaign that is heavily targeted to a specific local audience and start collecting data. See how it responds, react and scale if it’s a hit because you’re most likely one of the few advertisers targeting that area right now.
I will refrain from just regurgitating all the stats and data Spotify provides in their media kit, I mostly just wanted to drive the nail in on this subject and get you thinking. Take a read at what they offer and get out there and test now before the hordes of greedy marketers like myself come to make it a busy marketplace.